JM acquiring property in Älvsjö, Stockholm

Together with Familjebostäder, JM is acquiring Sandaletten 1, a commercial property located in Älvsjö, Stockholm Municipality. The cost of the transaction for JM is SEK 106m. Occupancy and payment are expected to be completed by January 2013.

Local planning has been underway for a year and is planned to be completed during the course of 2014. The property has previously housed activities for Ericsson, amongst others. JM is purchasing two-thirds of the property, and is planning to build approximately 300 tenant-owned apartments. Familjebostäder is purchasing one-third, and is planning to build 150 rental units.

"The acquisition reinforces JM's opportunities to continue taking part in the development of Stockholm's southern areas where demand for housing is great. The property has a very attractive location close to public transportation and green areas. Cooperation with Familjebostäder is very positive since we complement one another in the area with our mixture of different forms of tenure," says Pär Vennerström, regional manager, Stockholm South.

For more information, contact:
Pär Vennerström, Regional Manager Stockholm South. Phone: +46 (0)8-782 89 12
Anna Dahlman, Press Office Phone: +46 (0)8-782 88 63

JM is one of the leading developers of housing and residential areas in the Nordic region. Operations focus on new production of homes in attractive locations, with the main focus on expanding metropolitan areas and university towns in Sweden, Norway, Denmark, Finland and Belgium. We are also involved in project development of commercial premises and contract work, primarily in the Greater Stockholm area. JM shall promote long-term quality and environmental management in all its operations. Our annual sales total approximately SEK 13 billion and the company has about 2,300 employees. JM AB is a public limited company listed on the NASDAQ OMX Stockholm, Mid Cap segment.